In this article, I wish to share with you various facets of Marketing which are an absolute must to understand and accordingly implemented to gain an insight into your target audience and thus your business. Marketing is a very broad topic and hence needs to be learnt over a few sub topics that define marketing. Given its scope, marketing forms the core of any individual or company’s efforts to stay loyal to its customers and its understanding is imperative for anyone in business.
Here we will try to analyse Marketing under various subtopics.
Marketing is a science and not an art
Marketing doesnt happen overnight and is not the result of any eureka moment that happens to you. It is not about being creative and hence not an art, it is more so a science as I will outline here. Marketing starts in your mind much before a product is created. It is based on demands of a particular product which is when a marketer conceives the how and why of the said product. The important fact about marketing is a connection with the customer which stands the test of time. The more trust you have with your customer, the stronger your marketing arm would be. In that sense, Marketing is a science which is built over time based on the rapport you have with your customer.
Digital Marketing versus Traditional Marketing
We live in a world of digital deluge. Our day starts with looking at our phones and possibly ends by looking again at them. There is so much of a digital explosion that we tend to see Digital Marketing as something that is separate from Traditional Marketing. But we must question how it can be. The basis of Digital Marketing is also in Traditional Marketing as it has emanated from the same since the advent of so much of a digital explosion. So we need to recover from this myth of treating Digital Marketing as a separate entity but try to understand Marketing as a whole and then we can begin to understand Digital Marketing in the right light. It is only the channel which has changed i.e. digital but the core still remains the same. Earlier if we were using television, radio, print as a channel to connect with our customers, now it's the digital realm. So we are just expanding on the landscape of the marketing discipline.
CATT Marketing Funnel
One of the best ways to understand the impact of Marketing is through how you design your marketing funnel so as to connect with your customer at a deeper level.
Here we define wealth based on a certain formula given as under.
Wealth = n^CATT
Let us take a look at how each of these work to contribute towards your wealth
n - Niche, In today's complex market it is very important to be specific pertaining to what problem of the customer you are trying to solve. This is where niche plays a crucial role. The niche that you choose will define how well equipped you are to address the needs of the customer.
C - Content, The next important facet in creating wealth is Content. The Content needs to speak directly to your customer and hence every effort needs to be put in so it speaks the right chord with your customer. In this vast changing landscape, the content needs to be dynamic in every form be it simple text, visual or even video.
A- Attention, Once you have a good content in place you need to gain the attention of your customer/reader. This can be done by adopting standard SEO practices and to be present in the right social media channels to gain traction.
T - Trust, Once you have attention of the customer then you need to keep delivering constantly so you can build trust with the customer. This can be done constantly reaching out to the customer and ensuring that their needs are met so you can build a strong rapport with them.
T - Transaction, All the above done properly will lead you closer to the customer and that relation can be capitalized through transactions. If and only if you can address the pain points of your customer through a particular solution and hence a transaction, can you win a customer.
So with this formula you can be assured of your marketing efforts and their outreach.
Integrated Digital Marketing
We live in a world where there is a fierce competition and one needs to pay equal emphasis to each and every facet of digital marketing but sometimes due to lack of focus or unnecessary noise our efforts are drawn towards a certain facet of Digital Marketing and the others are ignored. For example, Let's say our efforts are more geared towards a better SEO practice and we are expecting results based on that. Then in such a case the results would be unfavourable and hence we will need to look at this predicament more holistically. In essence, we need to pay equal attention to all facets be it SEO, Social Media, Email Marketing or any other only then we shall be able to evolve with a successful digital marketing plan. Because once its out there we will not be able to ascertain what works better than the other and an integrated approach will serve our customers best interest.
Personal Branding
Branding plays a crucial role in any company’s marketing efforts. But what is also essential is that you have a Personal Branding. This is so because customers relate more to people than with products. The facet of Personal branding helps to add that element of personalism to your entire marketing efforts. In essence, its the people who build brands and hence personal branding assumes greater significance. In today’s cut throat competition, people look for a responsive stance from companies and hence the reliance on people rather than brands and thus Personal Branding is crucial to your growth.
This is just an overview of Marketing and just lays out the foundation of what Marketing is composed of and how you can look to build it over time. A marketer truly is a person who foresees any development and thus gives shape to a new product. So in that sense Marketing requires an intuitive acumen which can be built over time. To enhance your grip on Marketing you will do good by reading books by Philip Kotler, who is an authority on the said subject. I hope I have succeeded in satiating your appetite on all things marketing or atleast stirred a need for Marketing and look forward to your views on the same.
